Narwi is a non-profit Islamic crowdfunding platform which allows donors to support microentrepreneurs
Narwi (www.narwi.org) is a non-profit Islamic crowdfunding platform which allows donors to support microentrepreneurs of their choice by establishing an endowment, or “Narwi-Waqf,” with as little as USD 25. Combining the power of crowdfunding with the virtue of Islamic charitable giving, Narwi provides financing for the startup and growth of very small, or “micro” enterprises, thereby creating muc
h-needed jobs in the Middle East and North Africa. Through Narwi, donors provide no-cost capital to a network of Field Partners (primarily microfinance institutions), lowering their risk and enabling them to serve marginalized, higher risk and higher social impact beneficiaries. Narwi uses a revolving donations model; as a loan is repaid, the donor’s Narwi-Waqf is replenished, and those funds become available to support other beneficiaries selected by the donor. Narwi was founded in July 2015 by Silatech, a regional initiative focused on youth employment and enterprise development, and is enabled by Kiva.org, the world’s largest online microlending platform. All projects featured on Narwi.org are financed through Shariah-compliant financial products, and are sourced through Kiva’s Field Partner network. Narwi currently finances projects in Yemen, Palestine, Jordan, Iraq, Lebanon, Egypt and Somalia, with plans to expand to Morocco and Tunisia, and possibly to additional countries outside the region.
